Merchant & POS
What Is an MCC Code Used For?
Since the MCC code is a merchant's category code, it's critical for the checks performed during merchant onboarding and authorization, including campaigns and restrictions.
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"Transaction Limit"
226 articles found
Payment Systems
First Payment Transactions on the Digital Turkish Lira Network Successfully Completed
As part of the first-phase work of the Digital Turkish Lira Project led by the Central Bank of the Republic of Turkey (CBRT), the first payments on the Digital Turkish Lira Network were successfully carried out. The CBRT will continue its closed-loop pilot tests in the first quarter of 2023.
Merchant & POS
What Is a Cancellation (Void) and a Refund?
Credit card transactions made via POS sometimes need to be reversed. These are called a cancellation (void) or a refund. What's the difference, and when does each apply?
Credit Card
Credit Card/Debit Card Fraud
Credit card fraud is generally committed using the card itself, using card details without the card, via excess or duplicate withdrawals, or by seizing identity information. ATM card trapping is common, since ATMs hold the card during the transaction.
Laws & Regulations
Can I Continue My Other Business Activities If I Become the Agent of a Licensed Payment Institution?
Yes. Payment institutions themselves cannot engage in commercial activities other than payment services, but their agents may continue their other commercial activities alongside the payment services.
Merchant & POS
What Is a MultiCurrency POS?
Multicurrency POS refers to POS devices that can process transactions in foreign currencies (USD, EUR, GBP, etc.) in addition to Turkish Lira. Merchants using a MultiCurrency POS can process transactions in different currencies for international cardholders.
Payment Systems
What is BNPL (Buy Now, Pay Later)?
The term 'Buy Now, Pay Later' (BNPL) refers to deferring payment on a purchase to a later date. The product is delivered to the customer before any payment is made, and the customer pays afterward.
Credit Card
Is a Prepaid Card a Credit Card or a Debit Card?
A prepaid card may look like a debit card since it has no predetermined limit and purchases are limited to the amount loaded by the cardholder, but in terms of use and operating logic it differs significantly from both credit and debit cards.
Merchant & POS
What is the risk of mail order transactions for merchants?
Mail order transactions are preferred by cardholders because they only block the card limit by the installment amount, creating a sales opportunity for merchants. But is the remaining balance guaranteed?
Credit Card
BRSA Tightens Credit Card Installment Limits
The BRSA has restricted the number of installments on credit card transactions depending on the sector, aiming to keep household spending from exceeding income. This post covers the new installment limits for furniture, white goods, TVs, gold, vehicle loans and the higher risk weights.
Merchant & POS
Should I send a payment request I received at the customer's request as an e-commerce transaction?
A reader asks whether a payment request taken at a customer's request should be sent as an e-commerce transaction, and what really separates Mail Order from E-commerce authorization.
General
Agentic Commerce Series – Part 6
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?